UW Business Financial - Risk Management General Records Schedule

425 Steenbock Library
550 Babcock Drive
Madison, WI 53706-1201
Phone: (608) 262-5629
FAX: (608) 262-8899
Email: Records Management 

© 1996-2007 by the Regents of the University of Wisconsin.

Last updated:
April 2007

Originally published:
prior to 2001

Business Financial - Risk Management General Records Schedule

Risk management, for the purposes of this records schedule, encompasses the areas of: liability and property claims processing, and safety and loss prevention. Information regarding safety and loss prevention programs is managed locally at each institution. The University is self-funded for all-risk property protection under Section 20.865 of the Wisconsin Statutes with some exclusions.

Risk management offices are responsible for investigating claims, compiling documentation relating to the loss or damage, and approving or denying the claim. In the case of auto claims, the University recommends payment to the State Risk Management office. For property claims, the University Risk Management office makes payment to the campus department and the State Risk Management office reimburses the University account.

Please read this warning. Records disposition may not take place if there is an open records request, or if there is pending litigation or audit involving these records.

Contents

LIABILITY AND PROPERTY CLAIMS PROCESSING

Liability
Certificates of Coverage/Letters of Assurance
Specialty Liability & Contractual Agreements
Property
Automobile
Photographs, Maps, Precedent Setting Cases Major Losses
Property Logs
Subrogation Files
Risk Management Accounting Information
Application: Claims System

SAFETY AND LOSS PREVENTION

Safety Surveys
Driver Control Records-Student Vehicle Approval Forms
Driver Control Records-Staff Driver Authorization Forms
Pilot Approval Files
Statistical Analysis of Losses/Report
Camps & Clinics

PROPERTY CONTROL

Vendor Invoices
Data from Purchasing System
Requisition File
Gift Transmittal Forms
Federal Excess Property Forms CFR's
Daily Cash Transaction Listing
Equipment Verification
Loan Agreements and Permanent Transfer

CAPITAL EQUIPMENT INVENTORY MANAGEMENT SYSTEM DATABASES

Office of Naval Research Reports
Reports for external agencies

Liability and Property Claims Processing

There are three types of claims: liability, property, and auto. Liability claims are the result of alleged negligence by an employee of the University that results in injury or property damage. The claim originates with the local risk management office which assigns it a number, gathers the appropriate information to process the claim, and transfers the documentation to the Department of Administration. NOTE: The DOA does not maintain a separate auto category. DOA separates auto into liability and property components. 

The originals of all claims documentation are to be transferred to DOA. The DOA is the holder of the official file. In case of litigation, it is the DOA file that is transferred to the Attorney General's office. At the conclusion of litigation, the original records are transferred back to DOA for retention. 

Particularly in the area of hazardous waste and civil rights, a claim can originate with the Attorney General's office. If a claim originates there, the records are retained by the AG's office. 

Any claim can originate with AG's office, but typically processing begins with campus.

Typically the items listed under RDA #9533, #9534, #9535 are filed together in a numerical claims case file. 

Retention is calculated from date of the event or conclusion of agreement. If minor involved, retain from age of majority. 

Some or all of the following types of documents and forms are used to initiate and support claims processing:

RDA #	Record Series Title	Retention
9533	LIABILITY  Copy of Incident Report Claim Form Notice of Lawsuit / Summons Complaint Notification of Payment Correspondence Specific to Benefits Claims	Campus Copy 3 years System Administration 3 years DOA* Permanent
9534	CERTIFICATES OF COVERAGE / LETTERS OF ASSURANCE These represent notification of coverage either for property or liability to outside parties. For example, notification to clinics that medical practitioners from UW Medical School are covered by liability insurance.	3 years from termination of agreement
9535	SPECIALTY LIABILITY & CONTRACTUAL AGREEMENTS  Special liability policies and agreements for items not covered by State insurance.  Policies and agreement are held by System Administration.  Campuses hold correspondence relating to coverage under these policies and agreements.	Campus: Correspondence 3 years from end of contract or agreement. System Administration: Policies-Permanent
9536	PROPERTY:  Memorandum/Miscellaneous Correspondence  Police & Security Incident Report  Financial Documents, such as: bills for repair and cleanup, invoices, related expense reports to support claim  Physical Plant Transaction Reports detailing labor & supply charges  Proof of Loss Form  Insurance Adjustor Report if claim is > $10,000.  Copies of Requisitions  Copies of Vendor Data Sheets, (If specialized equipment involved, detail regarding use and set up)	Campus Copy 3 years System Administration 3 years DOA* Permanent
9537	AUTOMOBILE  State Risk Management Vehicle Incident Report/Original Driver Report of Accident  Repair Estimates  Police Report  Scope of Employment Form  Correspondence	Campus Copy 3 years System Administration 3 years DOA* Permanent
9538	PHOTOGRAPHS, MAPS, PRECEDENT SETTING CASES MAJOR LOSSES	Campus Copy 6 years System Administration 6 years  DOA* Permanent  NOTE: Photographs and Maps are to be reviewed by the institution archives prior to disposal.
9539	PROPERTY LOGS:  Logs listing special types of property and equipment, such as: newly acquired, borrowed, equipment in transit, and art exhibit.	3 years from expiration of agreement.
9540	SUBROGATION FILES: Files containing documentation to support claims against private or third parties in which University property is damaged or lost. Files are not transferred to System Administration or DOA for processing.	3 years from close of claim.
9541	RISK MANAGEMENT ACCOUNTING INFORMATION: Accounting ledger sheets, work sheets, etc. used to monitor the deposit and disbursement of funds to repair damage to University property. Any claim funds recovered must be deposited and disbursed from this account. Account is reconciled monthly.	5 years from close of account.
9542	Application: Claims System The claims system supports the processing of all three types of claims. The system tracks the claims, produces reports, tracks payments, and provides inquiry access to claims by accessing various data fields. Commercial software packages-individual campuses use them or develop their own support systems.  Data tables are maintained for each line of coverage; liability, property and auto.	Retain 7 years.

return to top

Safety and Loss Prevention

Programs in this area are designed to limit University liability and to promote safety in University activities. Programs largely relate to vehicle and aircraft safety and contractual agreements for activities occurring on University property such as youth sports camps or for use of loaned equipment. Private consultants are contracted for safety surveys. 

return to top

Property Control

Any property which meets current definition of capital equipment must be included in the property inventory.

 Property control maintains an inventory of University property using Capital Equipment Inventory Management system, a mainframe based application. Individual inventory management systems may vary in terms of input, content and outputs.

 Property Control creates and maintains records to meet the following requirements:

• Wisconsin Statutes require rules for the management, care and preservation of all University property.

• Federal regulations provide uniform regulations for all property funded or furnished by the Federal government.

• Risk management requires that an itemized listing of all University property be maintained for insurance purposes.

• The University must report the book value of all its capital equipment as part of the annual financial report.

• The inventory system provides information for the calculation of the overhead charge.

• It provides information to support requests for funding equipment replacements.

• It provides information to support a variety of State and Federal reports.

Inputs:

Capital Equipment Inventory Management system has two databases.

Outputs:

Approved by Wisconsin Public Records Board, 8/16/95

return to top